Thursday, October 9, 2008

Solar cell maker First Solar Inc has felt no immediate effect on its business from the financial markets crisis and could take on a role in financing new projects or buying into new technologies, Chairman and CEO Michael Ahearn said on Wednesday.

The maker of thin-film photovoltaic cells told the Reuters Global Environment Summit that the fast-growing industry would likely face higher costs of capital because of the credit crisis, and that First Solar could helping to finance new projects....

...Ahearn said an investor note published by Goldman Sachs on Tuesday that predicted declining prices for solar modules had contributed to the selloff this week, but said he did not see a change in industry fundamentals.

"I don't think anything changed from the report (Goldman) did a month ago," he said, referring to the bank's more positive take on the industry....MORE